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the heat of the sun in hawaii going to the heat in washington. steve forbes will be coming up later in the hour. shibani: we will tell you what drove the markets today with today's data down load. stocks gaining momentum in the last hour of trading crawling back from triple digit losses down about 150 points following reports that the house will return to washington on sunday, but that late rally wasn't enough to lift stocks into positive territory, with all three major indices closing lower for the fourth day in a row. materials, financials, amongst the day's top worst performing sectors i should say. new home sales surging to strongest level in more than two years. sales jumping 4.4% from october to an annual rate of 377,000, more good signs that that housing sector much needed to improve the rest of the economy is finally getting a boost. and the number of americans filing new applications for unemployment aid falling to its lowest level in nearly four and a half years. initial claims dropping 12,000 to a seasonally adjusted 350,000 the week prior was revised up by a thousand. da
-- highway 24 through la fayette, no delays. here's steve. >>> mostly clear, cold this morning. a little breeze for some. most temperatures are in the 30s. there are some upper 20s. we have a system coming in. it's splitting. i think the pattern -- this is a sign of things to come here for a while after what's been a very, very busy november and disease. i think things quiet down in january. part of this system will go north. part it is will south. 28 in santa rosa. 47 in livermore. this may be a very localized event. this is at the livermore airport. out by the lab, it's 33. they are getting a little northeast wind off the altamont pass. that's the only thing i can think of because not far away, it's 15 degrees chillier. upper 30s for some lowser to the -- to the bay. 6 -- for some lower to the bay. 6 below in tahoe. man. that's cold. see a little bit of shower activity trying to form off the north coast. i think this is falling apart. this low is heading towards southern california and i think therein lies the trend. the pattern looks quiet for the for the next 10, 15 days. you usually
:07, here's steve. >> thank you very much. beautiful sunrise over the big city here. we have some areas that are clear, probably some fog otherwise its clouding up especially to the north and some rain is trying. this is not a strong system but every system so far in a rain year -- or a wet year you go with it. in a dry year this doesn't have a chance but there will be light rain parallel to the coast. it's cold. pockets of fog. mostly cloudy. chilly to cold. for some not too bad but for others really cold out there. rain develops and if the system has enough punch snow level could be around 2500 feet. that wouldn't be until later though. 34 seems possible there. livermore and concord. 1 degrees in tahoe, sacramento 32 and even reading at 30 degrees. there's cold air to the north. you can see the lines right there -- some of that air is mostly clear. that's where some of the fog has been forming. looks like i doubt much of that is reaching the ground but it might. some of this lighter rain is starting to fill in with a lot of cloud cover. but watch how it really just kind of hangs -- ki
people. time magazine's rana joins us and steve kornacki. it seems to me if you listen to newt gingrich, who has become a commentator every time he's not running for something, you get the sense that you don't want to run against hillary clinton because she's grabbed the scepter. she's quite hawkish on issues like iraq and the middle east generally. i think she's very hawkish xa d compared to most democrats. where is the wiggle room to go against her? >> i completely agree. i think she's done an incredibly great job. she's been incredibly deft at are he positioning the u.s. in a mul multipolar world where we have relatively less economic power. she's managed through digital state craft, through smafert uses of technology to project a soft power and it's been a great credit to our country and i think it's going to be a real tough thing to put in a bad light. >> you know, and, steve, i don't know about your politics on this, i think i'm a little to her left on a lot of thers foreign policy issues like iraq and the middle east. she's positioned herself just where you want to be, a notch o
. steve hayes, senior writer with the "weekly standard" and fox news contributor. jeffrey cleveland senior economist. and doug cote, chief market strategist with ing investment management. i will start with you, sir, doing, sure looks like investors believe we'll get a deal. what do you think? >> i don't think it matters. really what i'm focused on i know what the budget control act of 2011 is. let's call it what it is. it is a loss. why will there be tinkering in the last few days? as a strategist i will not be able to discount what they're doing. i think they just make it worse. i know what i'm getting. they're balanced on increasing taxes. i don't like increasing taxes. i like pro-growth economics but we need to cut spending. right now the law does it. i think go over the cliff. we know exactly what is going on. i'm concerned about a lot more things around the globe, particularly corporate earnings than i am the fiscal cliff. adam: all right. jeffrey cleveland, you're an economist, which is worse, raising taxes doing austerity all at once? what you do i this? >> i think the biggest prob
. with me today, ben stein. steve cornaki is joining us, as well. president obama returned to washington moments ago, cutting short his christmas vacation. the president has now spoken with all four congressional leaders, according to the white house communications director he. the house remains on vacation, but there are a few signs of life in the capital. gop leaders have released a new statement with an old message to the senate. the ball is in your court. the statement says the house will take action on whatever the senate can pass, but the senate first must act. well, this morning, senate majority leader reid slammed the house republicans not not even showing up. >> if we go over the cliff, and it looks like that's where we are headed, the house of representatives as we speak with four days left after today before the first of the year aren't here with the speaker having told them they will give them 48 hours inside. i can't imagine their conscious. >> well, senator reid is expected to hold a news conference about the talks this afternoon. so here is where we stand. reid wants to ge
agrees that that action is necessary. gregg: steve hayes, is the senior writer for "the weekly standard" and a fox news contributor. steve, great to see you. the deal being bandied about right now to raise taxes on higher earners actually doesn't appear to do anything to fix the problem, that is, all the new revenue from higher taxes would be used for more spending. as we understand about 850 billion in new revenue would be spent on eliminating the fiscal cliff automatic spending cuts and extending unemployment checks. is it true not a dial would go to cutting the real problem, the debt and deficit? >> yeah. in one scenario that is absolutely the case. we shouldn't actually be surprised. it has been clear at least for a short amount of time that this hasn't been the goal of these discussions. i mean for all the talk about deficit reduction and despite the fact that this began as an effort to rein in spending after the 2010 elections, it is clear democrats in the house and senate, i would argue the president, haven't been serious about long-term spending cuts. gregg: maybe they're not se
when he tried to cross the border with a antique shotgun his family said was an heirloom. steve harrigan is live. >> reporter: after four long months the 27-year-old former marine was released from the notorious prison late friday night after several hours of paperwork. he was accompanied by u.s. consular officials from the border between mexico and texas. he met his father and the two began the drive home. they had to stop off yesterday in a hospital in louisiana room in louisiana, john hammar suffering from the stomach flu. having trouble keeping food down. the goal was to get him home for christmas. looks like it will happen now. heather? >> steve, quite an ordeal for the family to say the very least >> reporter: a very tough time. they received threats, ex-torgs attempts threatening jon would be killed unless they paid money. his mother said only once he crossed the border that she could finally relax. >> it was my first night that i slept all night long without getting up. it was just the thought of not wondering what is going on with him, can anyone hurt him tonight? that
and the megayacht that steve after a payment disputethe venus, a $137.5 million, 260-foot-long yacht, made october. it's currently stuck in the port of amsterdam after the designer, philippe starck agency to attempt to remit the final payment for his design. according to lawyers at starck's design company, the designer has only received 6 million of the 9-million- euro commission and is payment before the venus will be released. as santa prepares to make his big journey. kids and adults all over the world can track his progress onbut that's not the only place people can go to see one of our viewers. as rain poured into a hillsdale mall parking lot. you can see it rushing down to partially flood. in the south bay. ther were reports of sporadic flooding all around pounded the area. news. as you can see there are sidewalks. a starbucks parking lot alsoseveral inches of rainwater chp's statewide dui crack down. chp is reporting that 700 drivers have been arrested statewide for driving under the influence of drugs or111 of those arrests were made here in the bay area. in 2011 the chp arrested 263 area.
, thank you. i want to start with steve on this one. this sunday when given the opportunity to defend hagel, chuck schumer i just mentioned, refused to do so. listen to what this very smart senator from new york had to say. >> that's his choice. i think once he makes it, his record will be studied carefully. but until that point, i think we're not going to know what's going to happen. >> can you support him? >> i'd have to study his record. i'm not going to comment until the president makes a nomination. >> steve, i have a sense that this knocking of this candidate has gone beyond neocons, people of the right. and including people who are just generally pro-israeli which is about most people in politics. i get the fear -- i have to call it fear because i liked hagel, that he may be in trouble now. the shots that have been taken at him about calling it the jewish lobby which is a problem because obviously people are very pro-israeli from the right. to use that term these days is the kind of thing that just ends up causing a lot of problems with people in the middle politically. they'd
is an update from an old friend and pair of ours, author of "beyond outrage" and steve moore, i guess robert reich attacks things, but why is it your democratic friends never want to cut spending and never want to shrink the government? why is that? >> i think a lot of documents are willing to cut spending that maybe you would agree with, larry. the problem with this bill, the biggest problem is it doesn't deal with the debt ceiling. we are going to have trench warfare and this is not going to end. >> the debt ceiling which is a scary thing. the republican's last shot at leverage, but markets get real nervous as i do when you start messing around with the us credit worthy news. and during the negotiations the democrats had no interesting spending. let me say one thing about this deal. if you look at the specifics of the deal, you know, it is not such a terrible thing, it is probably the best that republicans could get. but i want to make this point loud and clear. this is raising taxes on investment and businesses. i don't see anything good about it for the markets. we finally have resolutio
am claudine wong in for pam cook. mark is here for steve and i am liking your forecast. >>> we have been advertising a break-in the rain and as far as temperatures, we are off to a cool start in the of 40s. more cloud cover this morning. >>> i am tracking some more shower chances and i will have more on that in a few minutes. tara has an update on traffic. good morning tara. >>> this is a live look at 880, a lot more folks are out on the roadways this morning and this is a look at 237 near milpitas, traffic is moving on the right- hand side, let's head back to the desk. >>> we begin with breaking news. christian captain is there and what are police saying? >> well, the number one thing is that there were no officers injured. >> reporter: the one suspect in this case is dead. it's still a very active investigation on creek side drive. walnut creek police said it was a domestic violence case which ended in gunfire. there is more than a dozen cruisers from walnut creek police and from the contra costa area. then was actually behind the fence which you might be able to see and we learne
.s. hospital with flu-like symptoms. just arriving back at his family's home in florida. that is where steve harrigan is live in palmetto bay, florida. steve, what a christmas gift for this family. >> reporter: jamie, it was rashable to see here, four or five minutes ago, jon hammar and his father drove up into the garage. hammar senior came out and spoke to the media for a few minutes afterwards. he said this is the greatest christmas he ever had. he looked visibly exhausted. jon hammar was released after several hours of with more paperwork after five months in the mexican prison. father and son drove back with the goal to get here by christmas day. they had to stop off at a hospital in the louisiana. john, jr., dehydrated with stomach flu. they're not sure about his condition. he can barely stand you. he walked inside with his mother and father. his father seems like an excited man right now, jamie. jamie: the mexican government, even with pressure from us to keep him for four months chained with handcuffs to a bed, it has been such an ordeal all along the way for this family. they had a
are retired now? caller: yes. host: steve in phoenix, kind of business do you have? caller: i have a trucking company. we move products locally in the state of arizona. the fiscalw how cliff is going to affect me personally. since we cannot produce things, any company that is affected negatively, that will affect us negatively. withn't really do anything any government entities. directly speaking, i don't think it will really affect our customers, because they don't really do the kind of stuff that works with the government. they do the kind of stuff with businesses, manufacturers. the stuff that we carry does not have much to do with defense. a certain group of people say that we need to have cuts. then when the cuts there them in the face, they say not those cuts. that's the real problem. e their owns to gordon ac ox. host: scott is looking to start a business. in "politico" is this article this morning -- in "usa today" -- doc in baton rouge, louisiana, good morning it. caller: i have my own insurance agency. host: talk to us about the fiscal cliff. caller: i am kind of concerned about it.
and fundamental side with steve cortes. good to see you both. one has been a stellar performer and the other not so much. what do you like right now? >> bill, you just summed it up. the news came out over the weekend and the market is telling you what you should believe in. netflix is up 1% and amazon down 3.5%. look at the chart in amazon, you can see it's been showing us this over the last four months. amazon put a high in at 261. about eight days ago tried to take out that high and couldn't do it. it put in a double top. that's a sign of a -- you know, of a failure. you have a stock like amazon who basically -- the stock failed at 261 and now we have a 20-day moving average which it broke through and 209-day moving average, the last time it broke through the 20-day moving average it fell 13%. now we look over at netflix, that's a totally different story, right you? said it was a dog. it bottomed out at $54 and broke above its 20-day moving average and stayed above its 20-day moving average for the last four weeks. if it stays above its $20 moving average we're going to long this. our pric
're shaking your head, steve, so you get it first. people think, 12 years of intense pressure on you. 4 years of running, 8 years of serving, into your late 70s. does anybody want to inflict that on their lives at the end of their life basically? your thoughts? >> i think there's a compelling case she doesn't run. 1992 they came to the national stage, and they have been on the national stage since then. for 15 of those 20 years all the way through 2007 she was -- she and her husband were the top targets of the right in this country. she called it the vast right wing conspiracy. there was something to that. it's not that they absolutely will beat her in 2016, i think she could beat them, but it's an issue of do you want to endure that kind of day-to-day attack politics, vicious politics, for another four years, for another eight years, or do you want to say i have proven enough in public life and i want to do something else? >> i don't know. i think she showed no signs of her energy lagging as secretary of state, and that's a pretty tough job, too. i'm not saying it's as vicious as running for
from congressman steve israel, democrat from new york. stick around for that. >>> the other big developing story we're following, secretary of state hillary clinton in a new york city hospital this morning being treated for a blood clot. her spokesperson says the clot was discovered during a routine followup exam yesterday in the wake of the concussion she suffered several weeks ago following a fall. now, nbc news chief science and health correspondent robert bazell is live from new york there in front of the presbyterian hospital. bob, what do we know about secretary clinton's condition and how she is being treated right now? >> richard, we know precious little. we had the one statement yesterday evening from secretary clinton's staff that said she suffered a concussion that was related -- excuse me -- suffered a blood clot related to this concussion. usually when somebody has a blood clot related to a concussion it is in the brain and would not be treated with anticlotting drugs. she is being treated with anticlotting drugs. so maybe she has a blood clot someplace else. we don
girls? savannah, thanks. next up, a guy who's been called the best dad ever. steve feeney overcame his own fear of heights to take his daughter on the screaming swing, a ride that certainly lived up to its name. >> never again, thanks, elizabeth! oh, my gosh! o oh! oh oh oh oh! oh oh oh oh! >> and steve and his daughter, grace, are back with us this morning. good to see i both. >> glad to be here. >> steve, what's it like to watch that video again? is it like reliving the ride? >> no. i can't believe i hopped on it in the first place. it's a good thing it happened. it's been a fun ride. >> why did you hop on it in the first place? i know you're afraid of heights. why did you hop on it? >> the ride was in pigeon forge and my wife was behind and in a store or something and by the time we got to the front of the line an adult had to go with her and i decided to go with her. >> did you have to pull dad's leg to get him on the ride. >> i definitely had to pull some. he wouldn't go on it voluntarily. >> what did you tell him? >>> told him, come on, dad, everybody else is going to on it. you'
to get back to my christmas list here. let's see. casey dolan gets a girls' scholarship. steve lewis, steve got desks last two >>> good evening, americans, welcome to the ed show. i'm michael eric dyson in for ed schultz. the president cuts his vacation short to come back to washington, d.c., meanwhile, house republicans are literally phoning it in, this is the ed show, and as ed would say, let's get to work. >> this is something within our capacity to solve. it doesn't take that much work, we just have to do the right thing. >> six days away from the fiscal cliff and there are real consequences to millions of americans if no deal is cut. congressman elijah cummings and ryan grim of the huffington post are here with the latest. a tea party giant stages a coupe with his own office. the details on dick armey's hostile takeover. the nra is catching heat from all directions. >> i don't think the nra is listening, i don't think they understand. >> georgetown university law professor, david cole on the growing drumbeat against the nra. >>> six days until the price of milk shoots up to $8 a
clinton's glad clot. medical experts say the severe a steve the problem depends on the location of the clot. most risky are the rain. she is being treated by anti-could he ago ooh atlantas and will remain at new york's presbyterian hospital until tuesday to monitor her medication. this is not the first time that mrs. clinton had been treated for a blood clot she had one in the back of her right leg in 1988, she described it as the most serious medical condition she ever experienced. after a stomach virus she fainted and hit her head. it is possible the newly discovered clot had form before she was diagnosed with a discussion. it also could have resulted from bed rest. >> the blood clot i'm assuming is similar to the one she had in 1988 which was in the back of her leg. she did have a concussion recently, which probably made her a little immobile at home, which is a bit of a risk factor for developing clots in veins in legs, especially in people who are at risk for them h-frpblgts since suffering the concussion secretary clinton has not made any public appearance and canceled ove
? joining me now, senior economics writer or for "the wall street journal" steve moore. steve, thanks for making it in today. >> hi, jamie. we're having a white christmas in chicago. so it is a lot of fun. jamie: i know chicago, burr. the numbers are also pretty chilling for retailers who do what percentage of their business during the holiday season? >> you know, those months of november and december are absolutely crucial, jamie, for the retailers. about 40 to all their business all year is done in those two holiday months. so it's, not very good news that the retail numbers came in, you called them lackluster. and that's probably putting it charitiably. this was the worst year since 2008. it is actually, surprising, jamie, because if you look at some other indicators, consumer confidence had actually bumped up a little bit in the last couple months. we have, i wouldn't read too much into this because other indicators of the economy are looking up right now. jamie: so do you think it's an anomaly that it isn't going up? is it an indication if we go over the fiscal cliff there's conc
: let's bring in the author of how rich people think. steve, the rich voted not in overwhelming numbers but they certainly gave many of their votes to president obama in the last election. now, the rich people in america are going to have to pay higher tax rates. you know the rich. you know all about them. you're with them all the time. you write about them. how do they feel about this? >> well, i think the bottom line is, stuart, that the rich that voted for obama voted for obama based on his social policies not his fiscal policies. i don't think they are any happen per about the fiscal policies than anyone else, except maybe the very very wealthy, you know, maybe the michael bloombergs and the warren buffetts. stuart: i think there's a distinction here between wealth, accumulated money which you sit on and which is not taxed, and income, tax flow, which is taxed. i think there's a distinction between the two. when i say the rich, i guess i'm primarily referring to wealthy people who have accumulated wealth and they are sitting on it. they don't care if other people pay higher tax rate
. we still have to pass a budget and a debt ceiling. ashley: that is right. steve moore, senior economics writer with the "wall street journal." steve, thank you very much. shibani: so far the markets are having a tough time deciding what will happen over the next few hours. ashley: traders worried? we will ask a chief market strategist. we will have his opinion coming up next. ♪ [ male announcer ] how can power consumption in china, impa wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. ro price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. shibani: breaking news, live pictures from the white house as we wait for president obama to speak in about 15 minutes from now as lawmakers struggle to hammer out a deal on the fiscal cliff. peter
. the downgrading of the credit rating doesn't seem to have had any effect. lori: but, steve, we have the debt ceiling for a purpose, right? to avoid overspending. yet it doesn't seem to be doing its job. how can we get meaningful spending cuts, preserve entitlements back into the dialogue of this fiscal cliff debacle? >> well, i don't think we have it to encourage fiscal responsibility so much as we have it because it's required for congress to authorize borrowing money to pay our debt and deficit obligations. it's, the way i look at it, it is a mere constitutional technicality and we should raise it. i would like to make one point about on the downgrade issue that he just talked about. if we go over the fiscal cliff, that would certainly be no reason for a downgrade because we would be cutting the deficit and the debt. lori: right. >> but if we kick the can down the road here and don't do anything with a short-term solution, then i think it would be reasonable for the debt, excuse me for --. lori: another downgrade. >> for us to be downgraded, excuse me. lori: let me send it back over to you
iron oar a lot. >> let's get more insight from steve from web bush securities. how much of a nail biter is this for you in terms of fiscal cliff and the markets? >> i think pretty clear at this point that if there's a deal coming, it's gonna be coming very, very soon. i think the markets discounted the fact we are going to get some sort of deal t has held up fairly well here and i think if we don't get a deal, we will see a selloff. i don't know how considerable, but certainly see the 2, 3% decline in the market. >> does it amaze you, steve, that the markets, in your view, still consider a given that we are going to reach a deal? here we are thursday, december 27th. they still haven't issued a 48-hur notice for congress to return to capitol hill and yet you're saying the markets have baked in some sort of deal? >> yeah, i think so. i don't in he isly think the deal happened december 31st. if we pass waite without a deal earthquake the market will think something is going to happen in early january this is the way washington works, they walk right up to the edge of the deal, maybe even p
for -- and david knock murrah, white house reporter for the washington post. great to have you here. steve, i want to start with you because you just heard senator lieberman say that he thinks it's more likely that we're all going to be going over this cliff than not. is that the sense that you have been getting from lawmakers as well? >> absolutely. first of all, i just checked about 20 minutes ago. there are no talks going on today. the senate comes back on the 27th. there's a lot of stock being put many the fact that maybe mitch mcconnell and harry reid can cut a deal, but mitch mcconnell, though by his nature, is a dealmaker, feels a lot of these same kind of tea party pressures at home that a lot of members of the house feel. he has a potential primary challenge of 2014. the tea party is very strong in kentucky. that's ran paul country. he is very mindful of that. i don't think he is in a position right now to cut any kind of deal that would invite a problem for himself at home. >> all right. when we hear senator john barosso saying he thinks the president is eager to go over the cliff becaus
how you doing? my name is steve. my family's lived in this neighborhood for years. recently, things got so tight we had to go to our local food bank for help. i lost a lot of sleep worrying about what the neighbors might think. that is, until i saw them there, too. how'd i do, steve? a little stiff. you could have done a little better. what? come on. you know, i have an academy award. yeah, but not for playing me. announcer: play a role in ending hunger. visit feedingamerica.org/hunger and find your local food bank. adam: i'm adam shapiro in for melissa francis. here's what's "money" tonight. president obama and congressional leaders try to pull off a fiscal cliff hail mary. their last-ditch meeting at the white house desperately tries to land a deal but the report he hadly not putting any new offer on the table. we have the very latest for you. >>> not even the fiscal cliff can slow down the u.s. oil boom the production surge sets up huge windfalls for businesses outside the oil industry in 2013. who stand to reap the biggest gains? we'll drill down details so you can get in on thi
representative congressman steve latourette. humans. even when we cross our t's and dot our i's, we still run into problems. namely, other humans. which is why at liberty mutual insurance, auto policies come with new car replacement and accident forgiveness if you qualify. see what else comes standard at libertymutual.com. liberty mutual insurance. responsibility. what's your policy? >>> washington finally seems ready to ring in the new year with a deal that averts the fiscal cliff. it only has taken 517 days to reach this point. what a waste of time. from the cnn money newsroom in new york, i'm ali velshi. this is your money. with only hours to go, president obama says a deal between democrats and republicans is, quote, within reach as america ticks closer to the fiscal cliff at midnight. >> they are close, but they're not there yet. and one thing we can count on with respect to this congress is that if there is even one second left before you have to do what you're supposed to do, they will use that last second. >> duown to the wire. if you thought the fiscal cliff snuck up on congress, the
commissioned by steve jobs is now free to sail to the united states, the designer of the yacht named venus said he was still owed 4 million dollars so it was impounded but now he has reached a settlement with his family. it is still in europe however because bad weather is keeping it at the dock. >>> well, today on ktvu channel 2 news at 5:00, continuing coverage over that fiscal cliff crisis, more on that plus what happens to your paycheck and your monthly income if lawmakers fail to make a deal by january 1st. >>> thanks for trusting ktvu channel 2 news, we are going to see you the next time news breaks also we are always here for you on ktvu.com and mobile ktvu.com, have a great thursday everyone. send comments to comments@captioncolorado.com captions by terry james, caption colorado, llc. [ female announcer ] now get high speed internet at home on our newly expanded advanced digital network, a connection you can count on. introducing at&t u-verse high speed internet with more speed options, reliability and wi-fi hot spots than ever. call at&t now to get u-verse high speed internet for as li
. >> julie seger watches c-span on verizon. >> on the subject of the fiscal cliff, we spoke to steve forbes this morning and got his take on the subject. host: joining us now is the chairman and editor in chief of forbes media, steve forbes. he will be with us for the next 45 minutes to take your calls. let's start with where we started this morning on "washington journal." have you looked at the fiscal cliff and have you made plans or altered your 2013 spending as a business owner on this issue? guest: the answer is not yet. the big factor will be what happens in health care, which kicks in it in 2013 and 2014. you're kind of immobilize until we get a fix. we are moving ahead on the projects we are doing. people are being cautious. we hope this thing will be successfully resolved and that we do not go into a recession next year. host: how would you like to see this issue played out in washington? what is the best economic solution? guest: the best economic solution is to avoid raising taxes. the best we can hope for is that they kick the can down the road for a couple of months. you are no
'm beginning to follow jesus with steve louisiana tor ret, you're crazy. >> sorry, baby. can't top jesus. >> thank you so much. we'll be right back. [ nyquil bottle ] you know i relieve coughs, sneezing, fevers... [ tylenol bottle ] me too! and nasal co [ tissue box ] he said nasal congestion. yeah...i heard him. [ female announcer ] tylenol® cold multi-symptom nighttime relieves nasal congestion. nyquil® cold and flu doesn't. >>> more good economic news this morning when can tcomes to new home sales. they are up for the month of november and the best in two years. alison kosik is here to break down the numbers. >> this is another sign that the housing market continues to be the brightest bright spot in the economy. new home sales rose 4.4% in november. that's in line with forecasts in showing that the median price for a home is just over $246,000. this is a sharp turn around when superstorm sandy drug down the sales. these numbers give us good indications about how the overall economy is doing. new homes typically are more expensive than previously-owned ones since they are built from
department public information officer, steve huffman. mr. huffman, thank you for joining us. one of the churches, trinity episcopal suffered a lot of damage. part of the roof is gone, front part of the parish is gone. and they went through a $1 million renovation. thank goodness it didn't happen when the church was packed. as daylight breaks what is the biggest challenge in terms of cleanup? >> we had public works crews working throughout the night and alabama power crews working to restore power in those affected areas. these guys -- i mean, unfortunately, this was not anything new to us. now, tornadoes are, but we're used to hurricanes, so we deal with power outages and things like that in emergencies such as this. our guys are well trained to respond to the types of incidents? >> how rare is it to have these tornadoes at this time of the year and nobody hurt, so you must have had pretty good warnings out there? >> we have been told a couple of days ahead of time to expect some severe weather to include tornadoes, and i think everybody was prepared for that. of course, we were
countries, particularly in china. >> steve, it also comes at a time when there's been a lot of congressional scrutiny for companies that go around the rules that the u.s. has. what is -- is this behavior illegal? and in what sense is it contra convenienting those laws and do you expect them to come under more precious in the u.s.? >> after i started writing about ze back in march and april, the u.s. commerce department immediately launched an investigation and later the justice department launched an investigation after a -- after it came out that zte allegedly attempted to cover it up and considered destroying the documents i had. whether that happened to huawei remains to be seen. the house intelligence committee issued a report which is highly critical of both of these companies including huawei for failing to be open about its iran business and provide any evidence that they were, in fact, obeying u.s. sanctions. and i don't believe that those investigators had access to the documents i've seen concerning huawei. i can't imagine that this isn't going to cause some problems for huawei goi
the country. dennis: the white stuff isn't bad news for everyone. record snowfall means big business for steve resorts. we got the ceo. shibani: let's look how the ten year treasury is fairing down four basis points. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ >> i am adam shapiro with your fox business brief. a tough day for the market with a few days left before tax hikes and budget cuts go into effect. harry reid says the u.s. is likely to roll off of the fiscal cliff and will speak to reporters about those negotiations. mortgage rates finished out the year near historic lows. freddie mac says the average for a 30 year fixed mortgage east to 3.35%. the empire state building is one step closer to going public. the management of the iconic skyscraper has been given the go-ahead by the securities and exchange commission to allow the building to be in
this year. >> number 10, apple the first year without steve jobs and a company trying to prove under a new ceo it can invent things we needed we didn't know and would still buy. >> number 9, the u.s. stock market despite all the worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. smart money has been in the market. the rest of us have been worried about the fiscal cliff. >> number 8, facebook's ipo, hundreds of millions of people like facebook, but investors did not. on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users pummelled the stock which has yet to climb its way back to its ipo price. >> number 7, mother meyer. the new ceo of yahoo who announced she was going to take a two-week maternity leave. it looks like a mother's touch is just exactly what yahoo needed. >> number 6, mother nature. a drought in the midwest that scorched the corn and soy crop sending prices sky high. who can forget superstorm sandy. damages
margie omero, and chip saltzmann. i want to talk about with what steve la tourette had to say today being interviewed on cnn. >> this isn't a one party or a one house problem. this is leaders of both parties and all branches of the government not willing to make the deal they know they have to make. everybody wants to play the blame game. this is about to put us over the edge. >> perry, i want to start with you. if perception is reality and the blame is going to matter to somebody, which side is it really going to matter to? ivities the blame is on both sides. what's driven this whole process is republicans are very opposed to -- just the republicans who will vote for any tax increase. we learned last week from the plan b vote. once we go over the cliff, republicans are ready for a tax cut, not an increase. right now that's what the big challenge is. >> chip, is that the biggest strategy here, get to the third and pass the third, the new congress comes in, boehner danger doesn't exist anymore, his speakership stays in place and grover norquist gives a thumbs up to up? >> i don't think tha
importantly trying to put people of color in positions of thofrt. >> at least when it comes to elected. steve, massachusetts will also have a special election most likely in spring after john kerry's expected confirmation. and scott brown with a command been lead in a lot of the polls. can any democrat give him a run for his money? >> i think so. i think several members have talked about running. it's a very democratic state. i think the republican party brand is at an all-time low. by the time we get to the special election in march or april, it will probably be lower based on the performance this week, so i think we'll have a real good shot. the white house and party are going to commit to do whatever they can to make sure we're competitive. >> can i respond quickly? >> very quickly. >> scott brown is a different kind of republican, very moderate. most massachusetts individuals really like him a lot. his only downfall is he was running for reelection in a heavy presidential year. >>> a major turning point for the housing market. we'll have that next. >>> president george h.w. bush is in gua
sustain the one-two punch is anybody's question. patti ann: joining us now is steve moore from the "wall street journal." hopefully he can give us some answers. good morning, steve. what is the most immediate impact in we go over the cliff? >> we are talking about january 2nd taxing rising on over a hundred million americans. this is a big sock to the wallet of americans of every income group. let's just talk about the middle class for a minute. for those earning about 45 to 75,000 a year they are looking at paying somewhere in the neighborhood of $2,500 a year more in taxes. it's not just the warn buffets and bill gates that will be hit by tax increases. the other part of the cliff that we don't talk that much about is the automatic spending cuts would take effect starting on january 2nd, an 8% reduction in major spending categories, national defense, many of what we call the domestic discretionary programs would also be hit. this is a big fiscal wallop to the economy and a lot of economists believe it could cause a double-dip recession. patti ann: on the other hand we are hearing from
the process for everybody. >> steve -- >> so he is in a powerful position because it's better for him and everyone if the senate has a unanimous consent as to what should happen. kick it over to the house. >> reed and mcconnell was interviewed side-by-side, it was a rare interview last month. i want to play you about what he said in that interview. and we will get your reaction on the other side. take a listen. >> what was the feeling in that room for you? >> it was very chilly, they did not look at each other once during the course of the interview. >> i thought it would be interesting to see if there was any common ground and we found none. >> we with found none. that doesn't sound like the two men get along very well. >> i don't know that mitch mcconnell has a lot of democratic friend that's pals around with, to be honest with you. so that is not terribly surprising to me. he is is not known as being that type of member of congress. but there are views on levels like harry and mcconnell has been able to come together before. it's not a mcconnell, reed, it's about the house republic
policy community, is that he's now getting shot at from the left and the right. >> like steve perry's voice never leaves journey, andrea mitche mitchell's presence never leaves. under fire before nominations are even announced. joining me now, politico's jake sherman. you heard from the great woman herself, andrea mitchell, they can't keep putting out trial balloons. what's the white house doing right now on hagel and can they save him? >> i think the problem for him is he has no constituency. >> georgetown professor, yeah. >> i'm not sure what his path is through the senate, and is this a fight the president wants to have in the beginning of 2013 when he has the fiscal cliff, government funding, debt ceiling, taxes, all these issues out there where he's going to have to fight tooth and nail, does he want to fight on chuck hagel and that's something to be seen. >> i want to turn our attention to the fiscal cliff, because you have some interesting reporting coming out right now. gop leaders had a phone call today. >> they are talking on a conference call, which is how they usually co
. he still makes more than the late steve jobs, he had a $1 salary every year over his stock options. it is easy to say he is being punished for the stock price decline in apple but i think it was set up before, the precipitous decline. tracy: should heat man up and take $1? lori: i think a company like apple with its huge cash turn and the money it makes probably one of the toughest ceo jobs, probably earns it. tracy: plenty of apple products. lori: we should really judge, that is what the board is for, all of these -- tracy: very diplomatic of view. new applications for jobless claims fall to a five year low. is this a sign of real progress or a technicality tied to the holidays? economist and senior fellow kevin hasset at that. lori: major trading partners around world. it is stronger, people flocking to the dollar, flocking to u.s. treasurys, running out and raising for the exodus, u.s. equities market, it is the fight for equality under way. we're back after this. tracy: three trading days left in 2012. all eyes on the fiscal cliff, sandra smith looking at our commodities are re
, steve. i would like to thank the secretary for his kind comments and i think it's important to note in addition to our united states senators, we are joined by the entire colorado delegation. our members of congress, diana degette, jared polis, cory gardner and congressman perlmutter. i had the great privilege to be with our former senator in the shadow of the rocky mountains where this tree once stood and we now have the high privilege of standing in the shadow of the capitol of the united states of america to be able to celebrate this season. when we went to carve that tree, we were joined there by members of the ute tribes. they are inherent to our area. the people of the ute tribes, they have a word that things are good -- to make sure that all is good. native american culture, it's about wind, about the sky, the land, and water. and from that, growth and life comes. this tree, which will represent the spirit of the state of colorado and indeed our nation speaks also to the importance as the secretary noted of forest health. in the state of colorado, we have many challenges this
on boehner's plan b. house congressman steve latourette, by the way someone who has repudiated grover norquist's pledge joins us next. >>> and mark zuckerberg's sister confused about facebook's privacy settings. we'll have the details of that ahead. people really love snapshot from progressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit progressive.com today. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok.
think he's doing okay. [laughter] heather: our steve harrigan is live from palmetto bay where the marine has just arrived and, steve, no doubt a big celebration. >> reporter: heather, a real subdued atmosphere here right now. that four-month ordeal just ended 90 minutes ago. that's when the father, with john hammer, just raced up this driveway. there are some concerns about john hammer's physical condition. they did stop off at an emergency room enroute home from that mexico/texas border. he's suffering from dehydration, his father says he's having trouble standing up, but this will be the greatest christmas the family's ever had. >> reporter: must be a really tough time for you right now. tell us what you're feeling. >> no, this is great right now. i'm glad to be talking to you about that it's over with. because it's really over with. >> reporter: it's still really sinking in to the family this is finally over with. initially, they had a low-key approach to try and win his release. after that failed, though, they went more and more public, appearing on television and also pressing their
when he got successful he moves all his company over to china, giving chinese people jobs. if steve jobs was born in china he wouldn't even have a garage therefore he wouldn't be able to create the apple computer. so i just think we just don't do enough for the people of this country. and the people who are in position to create jobs and do this do not reinvest in the country. therefore i don't think they should get tax breaks. if you want to give these corporate giants tax breaks then give it to those who want to invest in the country, who want to create jobs here, not overcease, and they think try to think of ways to get their money over there into here lower than say the american businessman paying 35%. guest: i mean, i understand your frustration. i think part of it is that the corporate tax code is a mess. we clearly need to fix it in a way that a lot of the politicians talk about fixing it in a revenue neutral way which doesn't add anything to the deficit discussion. it doesn't help make lowering future deficits any easier. so there are some things we need to change about the
believe it is a lot higher. the whole thing was steve jobs. he treated the apple computer in his garage. when he got successful theme of his company over to china giving chinese people jobs. if steve jobs was born in china he would not even be able to create the apple computer. we just do not do enough for the people of this country. the people who are position to create jobs do not reinvest in the country. i do not think they should get tax breaks. if you want to give these corporate giant tax breaks given to those who want to invest in the country and create jobs. for a lower than the american businessmen. guest: i understand your frustration. part of it is the corporate tax .ode clearly needs to fix it a lot talk about fixing a and a revenue neutral way. it does not help lowering future deficits any easier. there are some things need to change. in general we need to realize that if we set our country on the bike path making the right investments in -- the right path making investments in education and making sure we do not have the necessary programs that can help us do that growth,
morning, america and steve. this is a great time to be an american. i think we are all looking forward to the new year. i am a loyal but nervous. -- i am a little bit nervous. mitch mcconnell is the key. he can take the president over into the presidency and a came a great man. we need to make sure we let mr. mcconnell know that history is there. i know he has a lot of issues. everyone bacchant e-mail, text -- everyone can e-mail and text and let mr. mcconnell n know. the tea party is off the rail. this will make this country take off. i hope mr. mcconnell sees this. everyone out there, the game has been played. host: thank you for the call. harry is joining us from pittsburgh. caller: this whole thing is ridiculous. i started paying social security and 14. i have quite a bit of money in there. i have made my own way. record, the past money they are asking for, that is mostly white people making that money. they should call it what it is. that is still whitey's money. i wish i was as smart as it then people. a lot of people have called then and have not worked hard. everybody wants the
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